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Condos offer less maintenance, look more up to date, and seem to be more affordable, but they aren’t for everyone. There’s no such thing as one-size-fits-all, and that definitely is a good thing. Whether you should buy a condo or a home, it all comes down to what your preferences are, and where you are in life. Each type of housing has its benefits and drawbacks. Let’s have a look at the advantages of each type which is mostly the disadvantage of the other.
Pros and Cons of Condos
State-of-the-art features
If you love granite counters, an open floor plan, and stainless appliances, condominiums usually have them.
No Repair and Maintenance, on the exterior
While homeowners have a lot to take care of, condo owners don’t have to spend their time mowing their lawns, painting the house, trimming hedges, pruning trees, raking leaves, cleaning gutters, shoveling snow. The condo owner is only responsible for the interior. The exterior of a condo is maintained by the HOA (homeowner’s association). While a condo owner can chill out at the pool over the weekend, a homeowner might have to look after certain repairs and maintenance of the house.
Location
Since condos are more densely packed, they are often closer to amenities. In downtown areas, condo owners mostly enjoy shorter commutes than homeowners due to the close proximity to shopping centers, cultural activities, and job opportunities.
Luxurious facilities, features, and grounds
Large condominium neighborhoods are generally packed with shared amenities like spas, clubhouses, BBQ areas, tennis courts, rec rooms, gymnasiums, golf courses, jogging trails, and pet parks. On the other hand, most homeowners have to commute to public facilities to access the amenities which the condo owner has, even without leaving the property.
Social Connection
Proximity is the key to a closer community. People living in Oakville condos share communal spaces with their neighbors, which creates a level of intimacy that does not exist in large subdivisions. And considering the fact that condos attract people with similar interests and backgrounds, there is a greater chance of co-mingling socially.
Security not only are other condos in close proximity, but condo complexes are often gated and have modern security systems.
Pros of Buying a House
Having some Land
One of the primary advantages of buying a house is owning a piece of land. You can do anything at your property – build a private pool, create a garden, host outdoor parties, and play games in your backyard. There’s one thing though – the property needs to be maintained.
Greater Self-Expression
One of the biggest drawbacks of owning a condo is that there is absolutely nothing that you can do with the exterior of the property. On the other hand, homeowners have the liberty to customize and remodel their property just the way they want it. They can build a stone patio, paint it any color they like, put flowerbeds all over the property, etc.
More Room To Grow
As the family expands, homeowners can also expand their house. They can knock down walls; add an addition; build a deck in the backyard; even build a guest house on the property (in some less suburban areas). But you can’t do any of this with a condominium.
Better Accommodates Life Changes
Condos generally have certain restrictions in terms of living arrangements. Homeowner’s association generally sets down specific limits on who and how many people can live in a unit. For example, if your relatives need a place to live for a while, you can accommodate them in your house but not in your condo.
Easier to Sell
Genuinely speaking, condos for sale in Burlington can be difficult to advertise in a bad housing market. On the other hand, detached houses sell easily in all kinds of markets. This is because each house is unique, so there is a greater likelihood it will appeal to more buyers.
Condos are uniformly built, which is why they often are converted to rentals.
Final Thoughts
As you can see, there are pros and cons to both the housing type. What’s great is that you can weigh the advantages and disadvantages and choose whichever works best for you.
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